Dow Jones Futures Fall, Bitcoin Tumbles On China Cryptocurrency Ban; Salesforce Leads 17 Stocks Flashing Buys – Investor’s Business Daily
Dow Jones futures fell Friday morning, along with S&P 500 futures and Nasdaq futures, with Evergrande default fears ongoing and China banning all cryptocurrency transactions. Nike (NKE) and Costco earnings also were in focus.
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The stock market rally had another strong session, with the S&P 500 joining the Nasdaq in reclaiming key support while leading stocks showed strong action. Another big batch of top stocks offered buying opportunities Thursday.
Atkore (ATKR), Salesforce.com (CRM), Dell (DELL), Darden Restaurants (DRI), Accenture (ACN), Devon Energy (DVN), Square (SQ), Denbury (DEN), O’Reilly Auto (ORLY), Moderna (MRNA), MGM Resorts (MGM), Bank of America (BAC), Advanced Micro Devices (AMD), Idexx Labs (IDXX), SVB Financial (SIVB), Microsoft (MSFT) and Google parent Alphabet (GOOGL) were all actionable, following several others on Wednesday.
CRM stock, Dell, Darden Restaurants, Devon Energy, Denbury, O’Reilly, MGM and SVB Financial were breakouts or reclaiming traditional buy points. AMD stock, Bank of America, Square, Atkore, Moderna and Idexx Labs were early entries, from rebounds above the 50-day/10-week or trend line breaks — or both. Accenture, Microsoft and Google stock are rebounding from first tests of their 10-week lines.
Costco, Nike Earnings
Costco Wholesale (COST) and Nike earnings headlined key overnight news. Costco and Nike earnings both beat views, with the former topping sales forecasts and the latter just missing.
Costco stock edged higher in overnight trade. COST stock could potentially have a buying opportunity as it bounces of its 10-week line for the first time since a June breakout.
Nike stock fell 5% in premarket action, adding to losses as executives signaled supply-chain woes and margin pressures in the current quarter.
Microsoft stock and Google are on IBD Leaderboard. Microsoft and Google stock also are on IBD Long-Term Leaders, along with IDXX stock. Square stock and Dell are on SwingTrader. Google, Atkore and MRNA stock are on the IBD 50. Dell …….